Home / Knowledge / News / Textiles / Finnish Trade Register okays Ahlstrom's LP Europe demerger
Finnish Trade Register okays Ahlstrom's LP Europe demerger
27
May '13
Ahlstrom, a global high performance fiber-based materials company, announces that the demerger of Ahlstrom's Label and Processing business in Europe (LP Europe) has been registered with the Finnish Trade Register. A total of 11,597,326 new shares in Munksjö Oyj were issued as demerger consideration to Ahlstrom's shareholders in the LP Europe demerger.

This means that the total number of shares in Munksjö Oyj, following the registration of the demerger and the two other shares issues with the Trade Register on Monday morning, will amount to 38,769,590.

The second phase of the transaction, the demerger of Coated Specialties in Brazil, is expected to the completed during the second half of this year.

- Ahlstrom will continue to focus on high performance fiber-based materials that purify air and liquids, protect people and provide surface and structure to the customers' products.

- Ahlstrom's shareholders will own shares in two listed companies, Ahlstrom and Munksjö, both global leaders in their fields.

- Ahlstrom's Label and Processing business in Europe had net sales of EUR 562.5 million in 2012. Four plants and altogether about 1,000 employees will transfer to Munksjö.

- Right after the closing, Ahlstrom will buy back its operations in Osnabrück, Germany. The wallpaper and hybrid wallcovering business will remain with Ahlstrom, while the abrasive backings and pre-impregnated décor paper businesses will be divested to a third party in accordance with the commitments made to the EU Commission.

- Ahlstrom becomes a major shareholder in Munksjö, holding a total of 23.4% per cent of the shares following the completion of the European part of the transaction. After the completion of the Brazilian demerger, Ahlstrom's shareholding in Munksjö will be 17.8%.

"The rationale for this transaction remains sound: Ahlstrom can now focus on businesses in which we see the most attractive value-add and growth opportunities. On the other hand, the Label and Processing business can be further developed as part of a leading specialty paper company", said Jan Lång, President & CEO, Ahlstrom.

"Ahlstrom will now steer its resources fully towards high performance fiber-based materials. We have made great progress with our product pipeline, and we will utilize our improved capabilities in product and technology development to introduce unique products that help our customers differentiate."  

"Our primary goal now is to raise profitability, and seek growth based on the new product and technology platform now established. We are currently working with our strategic agenda going forward, and will communicate more on this after the summer holidays", Lång states.

Ahlstrom

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Lee Cooper

Apparel/Garments | On 28th Mar 2017

CCI clears FLFL proposal to divest Lee Cooper

The Competition Commission (CCI) of India has approved the proposal...

Textiles | On 28th Mar 2017

Bardoli CEFC to benefit south Gujarat MSMEs

India’s first common engineering facility centre (CEFC) at Bardoli,...

Interviews View All

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search